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Ray Dalio Thinks Every Investor Should Understand Populism

"Let me take you back to the 1930s. If you follow the cycle, 1929 to 1932 was a depression, then they printed money and we had a rebound in the world economy from 1932 to 1937. But then we had a wealth gap and then we had populism. The word to describe the most important influence in the world right now is populism. It's no longer Central Banks as the most important economic factor.

No longer traditional fiscal policy. The biggest force and how it plays out will be populism. It could be populism of the left or the right. It tends to get more extreme. Those extremities were the communists and socialists on one hand and the fascists on the other. If you follow that through, populism is the force that needs to be understood and dealt with."
- Ray Dalio